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Updated almost 4 years ago,
Newbie here seeking advice of turning primary home into rental
I am newbie to BP and aspiring Real Estate investor. I am planning to upgrade my primary home. I am looking for options on what to do with existing home. If I am able to get financing for the second home without selling the first home, I am leaning towards renting it out.
- My idea is to get feel about landlording.
- How do I convert my primary home into rental? Is there any specific things I have to do?
- How do I do research on the rental market in my area?
- initially I am planning to hire a property manager for a year or two, at least I understand the landlording.
- Any recommendations on how I can qualify for second home mortgage?
I appreciate any guidance.
Regards,